Some say call the company to get at your DD. Some say read their web site postings and blogs. I say NEVER in any pink stock. Let’s all do some DD shall we. The company says it raised some $80 million through:
The combined $50.0 million and $29.4 million were obtained from the two billion shares that PANAMERSA Corporation sold at $0.04 a share for a combined total of almost $80.0 million. The remaining $19.8 million was obtained through Pay Pro Latin America SA through the sale of MicroForests and other holdings. Since our financials are consolidated, profits can be derived from any company that is a part of our holdings.
Let’s look at the stats, they don’t lie. In case anyone wants a link for this, check out Stockhouse. Here we go:
Month Average PPS Volume Value
Sept 06 .0015 913,196,070 1,369,794
Oct 06 .003 1,649,656,050 4,948,968
Nov 06 .00485 1,657,631,716 8,039,513
Dec 06 .0028 856,054,549 2,396,95
Total 5,076,538,385 $16,755,227
This are the total number of shares that changed hands for PNMS between September 3, 2006 and December 31, 2006 (5,076,538,385). Bear in mind that the pinks and BB count volume as the total of buys and sells. Therefore, the total value of “buys” is roughly 50% or $8,377,613.
I’m sure you all have examined the “financials”. If so, you will notice most definitely that the $80,000,000 was raised in the last quarter of 2006. Am I making this up?
Take a look at the numbers. The stats clearly show the number of shares bought at value of: $8,377,613 versus the $80 million touted by the company. The stats show one tenth of this. Yikes I say!
Many of you will say: “hey they bought 2 billion shares at $.04”. Really..who would that be? The stats show that a lot of shares changed hands Q4 2006 and the 2 billion is probably in there somewhere. But not at $.04. Look at the opening and closing prices for each trading day and you will not see anything above .007 anywhere.
Who’s gonna pay $.04 for what can easily be purchased at one tenth of that?
And the sale of microforests valued at 19.8 million? Where in the financials do they show initial ownership and asset value of the investment in microforests? You gotta have something to sell before you can say you sold it.
Red flags?
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